Compare 2 annual report (ACCOUTING)
***PLEASE ONLY USE INFORMATION FROM WHAT I UPLOADED
***USE FILE “2019 VERIZON” AND “2019 VODAFONE” FOR MAIN INFORMATION
***FOLLOW “SAMPLE CASE-2 LAYOUT” FOR WHAT THE PAPER SHOULD LOOK LIKE
***USE FILE “US GAAP AND IFRS COMPARISON” AND “A ROAD MAP” FOR COMPARISON (CITE WHEN NEEDED)
***PLEASE SPEND ABOUT A PAGE FOR INTRODUCTION (PART 1) AND CONCLUSION (PART 3)
***MAINLY FOCUS ON PART 2. YOU CAN COPY AND PASTE FROM THE MATERIAL, BUT MAKE SURE YOU CITE AND DO NOT MAKE IT OBVIOUS
***USE “C5 LECTURE NOTES” FOR SOME KEY DIFFERENCES BETWEEN US GAAP AND IFRS
*** SOME USEFUL WEBSITE THAT WILL HELP:
+ THE IASB WEBSITE: https://www.ifrs.org/issued-standards/list-of-standards/
+ DELOITTE IFRS POCKET GUIDE: https://www2.deloitte.com/ch/en/pages/audit/articles/ifrs-in-your-pocket.html
+ PWC US GAAP VS. IFRS GUIDE: https://www.pwc.com/us/en/cfodirect/assets/pdf/accounting-guides/pwc-ifrs-us-gaap-similarities-and-differences.pdf
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THIS IS WHAT TO DO. PLEASE READ CAREFULLY
1. Identify the following financial statement disclosures in the 2019 Annual Reports for Verizon and Vodafone
a. Revenue Recognition
b. Pensions/Post-employment Benefits
c. Share-Based Payments
d. Restructuring Expenses
e. Bonds Payable
2. Explain and CITE the disclosures made by the companies and include the annual report page numbers
3. Research the FASB and IFRS accounting pronouncements and find the specific ones that support each of the disclosures in the company’s financial reports.
4. For each FASB and IFRS disclosure, summarize the complementary position taken by FASB or IASB and discuss how the accounting standards differ in the accounting treatment for that disclosure topic (document procurement number). STICK TO THE KEY POINT
***MUST FOLLOW THIS FORMAT
Part 1: Introduction: Develop an introduction paragraph detailing the purpose of the report with a minimal background of each company. (DO NOT INTRODUCE ABOUT THE COMPANY, FOCUS ON THE ACCOUNTING ASPECT)
Part 2: Analysis: Use the following format to present your results (copy and paste format for each disclosure) (follow the Sample Case 2 Layout file) and do it for EACH of 5 items (a,b,c,d,e I mentioned)
Part 3: Conclusion: Summarize the key findings of your analysis
